Case Studies
Payment Processing System Replacement Project
Business Domain and Problem Description
Utility client processes all customer payments and returns through several banking vendors. As the payment processes evolved over the years, the integration landscaping technology became outdated. Key challenges were:
- Company was not able to scale to new channels
- Company could not streamline payment processing
- Lead time was in months and required significant IT support to onboard new payment processing banking vendors
- Implementing a payment process change was time-consuming as there was no standardization in receiving payment files from banking vendors
720 Worldwide Solution Overview
Our team worked closely with the client’s stakeholders and all banking vendors to deliver a scalable solution in an eight-month timeframe.
Our scope included program/project management, vendor management, system architecture reengineering, business process impact analysis, fit-gap analysis, change management and training, business intelligence and reporting, deployment management.
We standardized a template across all vendors, implementing a valid solution and data warehouse to support data analysis on payment files.
The Project’s go-live was very successful, presenting minimal initial issues as it replaced a 25-year-old legacy system and launched with several banking vendors.
Business Results
- Reduced lead time from months to day(s) in launching new banking vendors.
- Reduced significantly the customer support team’s dependency on IT in order to launch new payment vendors
- Minimized change impact to vendors by implementing a standardized data-driven template with all banking vendors
- Ad-hoc reporting capabilities from Data Warehouse increased efficiency in payment balancing and reconciliation
The project team delivered exactly what we were looking for within the budget and time commitments. The project team also included the support/maintenance organization to ensure that what was delivered was supportable. Great work all around.
Weekly meetings and status reports kept me well informed of progress. Interaction with my team was frequent and productive. All-in-all, excellent execution.
Very confident in the team because they demonstrated great planning abilities that kept the project on track. I wouldn't hesitate to recommend them to another project.